Expertise from A-Z - Casualty: Into the unknown

It goes without saying the long-term stability of a provider, regardless of line of business, requires risk premium calculation and collection to cover all expected future costs – including the unknowns.

The uncertain future amount of these costs is a given in the industry. But this ambiguity is somewhat magnified for liability lines due to the long-tail nature of this business, and brokers need to be mindful of this when giving advice.

This two page article sheds light on the ever-changing casualty insurance landscape.

Topics covered:
• Long-tail liability exposures.
• Liability insurance market conditions.
• What is meant by claims inflation?
• Future challenges.
• Implications for brokers and insurers.